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CURRENT AFFAIRS : BANKING & FINANCE
Reserve Bank of India Directs National Payments Corporation of India to Assess Potential Third-Party Application Provider Status for Paytm Parent Company; Unveils Supplementary Measures
- The Reserve Bank of India (RBI) has asked the National Payment Council of India (NPCI) to examine the request of One97 Communications’ (OCL), which owns Paytm, to become a Third-Party Application Provider (TPAP) for continued Unified Payments Interface operation of the Paytm application.
Key Highlights :
- Importance of TPAP Approval : A TPAP approval is mandatory to provide UPI-based payment transactions to customers.
- Currently, all UPI transactions on the Paytm app are being routed through Paytm Payments Bank (PPBL), an associate company of OCL, which is registered as TPAP.
- RBI Directive on PPBL Operations : As the RBI has asked the PPBL to shut its operations by March 15, 2024, there will be no TPAP registration for the Paytm app to be able to provide UPI payment services.
- Definition and Role of TPAP : A Third-Party Application Provider is an entity that provides the UPI compliant app(s) to the end-user customers to facilitate UPI-based payment transactions.
- These applications could be mobile wallets, merchant apps, or any other platform that utilises UPI for payments.
- NPCI’s Role : NPCI, the umbrella organisation for operating retail payments and settlement systems in India, owns and operates the UPI platform.
- Functionality of TPAPs : TPAPs leverage the UPI infrastructure provided by NPCI and work with payment service providers (PSPs) and banks to facilitate transactions.
- Regulatory Actions on Paytm Payments Bank : In Jan 2024, the RBI barred Paytm Payments Bank from accepting deposits or top-ups in any customer account, prepaid instruments, wallets, FASTags and NCMC card after February 29, 2024, in the wake of persistent non-compliances.
- The deadline was later extended by 15 more days to March 15, 2024.
- Current NPCI-Approved TPAPs : Currently, there are 22 NPCI-approved 3rd party Unified Payments Interface (UPI) apps that can be used to send and receive money from other UPI users by using UPI IDs.
- They include Amazon Pay, Google Pay, Groww, Jupiter Money, Mobikwik, Phonepe, Samsung Pay, TataNeu and Whatsapp.
Reserve Bank of India Permits Authorized Fintech Entities to Issue Prepaid Wallets and Cards for Public Transport Systems
- The Reserve Bank of India (RBI) has allowed banks and non-banks to issue prepaid payment instruments (PPIs) specifically for public transit services, including metro, buses, rail, waterways, tolls, and parking.
Key Highlights :
- Amendment of Guidelines: The regulator has amended the guidelines for PPIs for mass transit systems (MTS), stating that such PPIs can be issued without the need for a “know your customer” (KYC) verification of the holder.
- Scope of Usage: These PPIs, known as PPI-MTS, can be used across various modes of public transport immediately, including metro, buses, rail, waterways, tolls, and parking.
- Account Limitations: While these PPI accounts may be reloadable, the outstanding amount cannot exceed ₹3,000 at any given time.
- Additionally, no cash withdrawal, refund, or funds transfer will be permitted.
- Validity and Regulation: The amended guidelines specify that these PPIs will have perpetual validity.
- These instructions are issued under Section 18 read with Section 10 (2) of the Payment and Settlement Systems Act, 2007.
- Industry Response: The Payments Council of India (PCI), an industry body, has welcomed this decision, stating that it aligns with the broader vision of advancing digital payments infrastructure and fostering inclusive growth in India’s financial landscape.
- Definition of PPIs: PPIs are instruments that facilitate various transactions such as purchases of goods and services, financial services, and remittance facilities against the stored value in them.
About RBI :
- Established : 1 April 1935
- Headquarters : Mumbai, Maharashtra, India
- Governor : Shaktikanta Das
CURRENT AFFAIRS: NATIONAL NEWS
Prime Minister Modi unveils around 2,000 railway development projects worth more than Rs 41,000 crore.
- The Prime Minister, Shri Narendra Modi laid the foundation stone and inaugurated and dedicated to the Nation around 2000 railway infrastructure projects worth more than Rs. 41,000 crores via video conferencing.
- Lakhs of people connected with the Viksit Bharat Viksit Railways event from 500 railway stations and 1500 other venues.
- Prime Minister Narendra Modi, unprecedented speed and scale have transformed the Railways sector and opened new opportunities for employment and investments.
- The railways budget has increased manifold in the last ten years and a record two lakh 50 thousand crore rupees were allocated this year, which were only 45 thousand crore rupees in the year 2014.
Key Highlights
- Prime Minister Narendra Modi laid the foundation stone and dedicated to the nation around two thousand railway infrastructure projects worth more than 41 thousand crore rupees through video conferencing.
- During the programme, Mr. Modi laid the foundation stone for redevelopment of 553 railway stations under the Amrit Bharat Station Scheme. These stations, spread across 27 States and Union Territories, will be redeveloped at a cost of over 19 thousand crore rupees.
- The Prime Minister also inaugurated redeveloped Gomti Nagar station in Uttar Pradesh.
- He also laid the foundation stone, and dedicated 1500 Road Over Bridges and Underpasses. These projects will reduce congestion, enhance safety and connectivity, improve capacity, and efficiency of rail travel.
Shri Nitin Gadkari sanctioned Rs 438.34 crores for the building of a two-lane road for Giridih on National Highway-114 in Jharkhand.
- Union Minister for Road Transport and Highways, Shri Nitin Gadkari in a post said in Jharkhand, approval has been given for the construction of 2-lane bypass road with paved shoulders around Giridih town on National Highway- 114 at a cost of Rs 438.34 crore.
- Shri Gadkari said the proposed Giridih Bypass will reduce the travel time from Ranchi to Deoghar.
- Also, construction of bypass road around Giridih city will lead to socio-economic development of the area.
India’s weightage climbs to record high on MSCI Global Standard index
- Index provider MSCI raised India’s weightage in its Global Standard (Emerging Markets) index to a historic high of 18.2% following its February review, and the changes will come into effect after market close on Feb. 29.
- India’s weightage in the index has nearly doubled since November 2020.
- India has the second-highest weightage in the MSCI Global Standard index, after China.
- There is potential for India to surpass a 20% weight in the MSCI Global Standard index by early 2024.
- Since January 2021, India’s weight in the MSCI Standard Index has more than doubled from 8.9% to 18.2%, whereas China’s weight has declined from 40.1% to 25.4% during the same period.
- MSCI added five Indian stocks to its Global Standard index with no deletions in its February review. In contrast, the index provider deleted 66 Chinese stocks while adding five.
- State-owned lenders Punjab National Bank and Union Bank of India were added to the large-cap index, while Bharat Heavy Electricals and NMDC were included in the mid-cap index.
- GMR Airports Infrastructure was moved to the mid-cap index from small-cap.
Government branches out: One highly beneficial neem tree for 10 Indians
- The central government plans to increase the number of highly beneficial neem trees in the country from the existing one tree for every 50 Indians to one tree for every 10 Indians to meet the rising demand from different sectors for neem oil.
- Presently, India has 18-20 million neem trees in the country, of which 40-45 per cent are in Uttar Pradesh, followed by Maharashtra, Rajasthan, and Tamil Nadu, among others.
- India needs to raise the plantation of neem trees to 140 million from the current 20 million to help meet demand as well as reduce the rise in temperature
- The govt targets to bring in 26 million hectares of wasteland under agro-forest cover by 2050 and there is a vast potential to increase the number of neem trees.
CCPA releases draft guidelines for the prevention of greenwashing
- The Central Consumer Protection Authority has released draft guidelines on the prevention and regulation of greenwashing for public consultation.
- The Central Consumer Protection Authority has released draft guidelines on the prevention and regulation of greenwashing for public consultation.
- The draft guidelines state that all green claims must be backed by “verifiable” evidence and full disclosures regarding claims should be made either directly or through QR code or web links The draft guidelines state that all green claims must be backed by “verifiable” evidence and full disclosures regarding claims should be made either directly or through QR code or web links.
- “Generic terms such as’ clean’, ‘green’, ‘eco-friendly’, ‘eco-consciousness‘, ‘good for the planet’, ‘minimal impact’, ‘cruelty-free’, ‘carbon – neutral’ and similar assertions shall not be used without adequate qualifiers and substantiation and adequate disclosure,” the draft guidelines stated.
- The draft guidelines define Greenwashing as “any deceptive or misleading practice, which includes concealing, omitting, or hiding relevant information, by exaggerating, making vague, false, or unsubstantiated environmental claims and use of misleading words, symbols, or imagery, placing emphasis on positive environmental aspects while downplaying or concealing harmful attributes”.
- Guidelines will be applicable to all advertisements and Service provider, product seller, advertiser, or an advertising agency or endorsers whose service is availed for the advertisement of such goods or services.
CURRENT AFFAIRS : INTERNATIONAL NEWS
World Health Organization Unveils Global Initiative on Digital Health (GIDH)
- The World Health Organization (WHO) introduced the Global Initiative on Digital Health (GIDH), aimed at fostering collaboration and sharing digital health knowledge and products among countries.
Key Highlights :
- Priority Area During India’s G20 Presidency: The initiative was identified as one of the three priority areas during India’s G20 presidency in 2023.
- Components of GIDH: The GIDH comprises four main components: country needs tracker, country resource portal, transformation toolbox, and knowledge exchange.
- Objective of GIDH: The initiative aims to democratize digital health technologies, particularly benefiting countries in the Global South, by facilitating knowledge sharing and collaboration.
- Launch Event: The Global Initiative on Digital Health (GIDH) was launched jointly by the WHO and the Government of India during the G20 Health Ministerial Meeting held in Gandhinagar, India, on August 19, 2023.
- Network of Networks: GIDH is envisioned as a WHO Managed Network, functioning as a “network of networks,” to consolidate recent and past achievements in global digital health and enhance mutual accountability.
- Alignment with Global Strategy on Digital Health: GIDH aims to implement the Global Strategy on Digital Health 2020 – 2025 and amplify the impact of future investments in digital health.
About WHO :
- Established : 7 April 1948
- Headquarters : Geneva, Switzerland
- Director General : Tedros Adhanom Ghebreyesus
NABARD Proposes Setting Up Meat and Egg Processing Units in Gujarat
- In the State Focus Paper for the financial year 2024-25, the National Bank for Agriculture and Rural Development (NABARD) has recommended establishing meat and egg processing units in Gujarat to produce value-added products like chicken samosa, patties, and momos.
- The focus paper was formally unveiled at Gandhinagar, Gujarat.
Key Highlights :
- Meat Production in Gujarat: The paper indicates that Gujarat’s total meat production has remained stagnant at 0.35 lakh kilograms for the last two years (2021-22 and 2022-23).
- Egg Production in Gujarat: Egg production in Gujarat witnessed a marginal decline of 3.6% in 2022-23.
- The state produced 18,789 lakh eggs during this period.
- Gujarat has 12.84 lakh desi fowl from backyard poultry and 55.67 lakh improved fowl from commercial poultry farms.
- Credit Potential Projection: The State Focus Paper projects an 18% growth in the credit potential for the priority sector in Gujarat for the year 2024-25.
About NABARD :
- Headquarters : Mumbai, Maharashtra, India
- Chairman : Shri. Shaji K V
- It was established on the recommendations of Sivaraman Committee (by Act 61, 1981 of Parliament) on 12 July 1982 to implement the National Bank for Agriculture and Rural Development Act 1981.
- NABARD is an apex regulatory body for the overall regulation of regional rural banks and apex cooperative banks in India.
- It is under the jurisdiction of the Ministry of Finance (MoF), Government of India (GoI).
About Gujarat
- Capital: Gandhinagar
- Chief minister: Bhupendrabhai Patel
- Governor: Acharya Devvrat
- NP: Gir National Park, Marine National Park, Velavadar National Park, Jambughoda
- Wildlife Sanctuary: Barda Wildlife Sanctuary, Vansda National Park, Purna Wildlife Sanctuary, Gaga Wildlife Sanctuary
CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS
Maryam Nawaz Makes History as the First Female Chief Minister of a Pakistani Province
- Maryam Nawaz, a senior leader of the Pakistan Muslim League-Nawaz (PML-N) party and daughter of three-time former Prime Minister of Pakistan Nawaz Sharif, became the first woman Chief Minister of Punjab province.
- She won the chief ministerial elections amidst a walkout by lawmakers of former prime minister Imran Khan’s party-backed Sunni Ittehad Council (SIC).
- Maryam Nawaz defeated Rana Aftab of the PTI-backed SIC to win the chief ministerial elections for the politically crucial Punjab province, home to 120 million people.
- She won after receiving 220 votes in the 371-member Punjab Assembly.
- The election was boycotted by the opposition Sunni Ittehad Council party, backed by jailed former prime minister Imran Khan.
- The session was presided over by newly elected Punjab assembly speaker Malik Ahmad Khan.
About Maryam Nawaz :
- Maryam was born on 28 October 1973 in Lahore, Pakistan.
- She is the daughter of former Prime Minister of Pakistan Nawaz Sharif and was initially involved in the family’s philanthropic organisations.
- In 2013, she was appointed the Chairperson of the Prime Minister’s Youth Programme.
- However, she resigned in 2014 after her appointment was challenged in the Lahore High Court.
- Maryam, 50, is also the senior vice president of the Pakistan Muslim League-Nawaz (PML-N).
- In 2017, Maryam was featured in the BBC’s 100 Women list because of her significant influence among the masses.
- She was also named in The New York Times list of 11 Powerful Women Around the World for the year 2017.
About Punjab :
- Governor : Banwarilal Purohit
- Capital : Chandigarh
- National Park : Abohar National Park, Mahendra Zoological Park, Jhajjar Bachauli National Park
Judge Nawaf Salam of Lebanon Elected President of the International Court of Justice for 3-Year Term
- Judge Nawaf Salam (Lebanon) was elected President of the International Court of Justice by his peers, for a term of 3 years.
About Nawaf Salam :
- President Salam has been a Member of the Court since 6 February 2018.
- Before joining the Court, President Salam was Ambassador and Permanent Representative of Lebanon to the United Nations in New York from July 2007 to December 2017.
- His full biography can be found on the Court’s website, under the heading “Members of the Court”/“Current Members”.
About ICJ :
- The International Court of Justice (ICJ) is the principal judicial organ of the United Nations.
- It was established by the United Nations Charter in June 1945 and began its activities in April 1946.
- The Court is composed of 15 judges elected for a nine-year term by the General Assembly and the Security Council of the United Nation.
- The seat of the Court is at the Peace Palace in The Hague (Netherlands).
- The Court has a twofold role: first, to settle, in accordance with international law, legal disputes submitted to it by States; and, second, to give advisory opinions on legal questions referred to it by duly authorised United Nations organs and agencies of the system.
CURRENT AFFAIRS : ACQUISITIONS & MERGERS
HDFC Bank Receives RBI Approval to Sell 90% Stake in HDFC Credila to Private Equity Consortium
- Private sector lender HDFC Bank has received approval from the Reserve Bank of India (RBI) for the divestment of a stake in HDFC Credila, the education loan subsidiary arm of HDFC Bank.
- HDFC Bank will sell a 90% stake in HDFC Credila to a consortium of private equity firms, including BPEA EQT and ChrysCapital group.
- HDFC Bank will retain a 9.99% stake in HDFC Credila, which provides education loans to students pursuing higher education in India and overseas.
Key Highlights :
- HDFC Credila’s Operations: HDFC Credila provides education loans to students pursuing higher education both in India and overseas.
- The company has served over 1.24 lakh customers since its inception, with a current loan book exceeding ₹15,000 crore.
- Merger and Regulatory Compliance: The sale of HDFC Credila comes approximately 8 months after the completion of HDFC’s merger with HDFC Bank. In April 2023, the RBI directed HDFC to reduce its stake in Credila to under 10% over the next two years to comply with regulatory requirements.
- Private Equity Consortium: The consortium of private equity firms investing in HDFC Credila includes Kopvoorn B.V., Moss Investments Ltd, Defati Investments Holding B.V., and Infinity Partners.
- Student Loan Services: HDFC Credila serves as HDFC Bank’s subsidiary for providing education loans to students pursuing higher education in India and abroad.
- Future Plans: Jimmy Mahtani, Partner and Head at BPEA EQT India, has expressed plans to accelerate HDFC Credila’s digital transformation and invest significantly in the company’s continued growth.
About HDFC Bank :
- Founded : 1st July 2023 (via the merger between HDFC-HDFC bank)
- Headquarters : Mumbai, Maharashtra, India
- MD & CEO : Sashidhar Jagdishan
- Tagline : We Understand Your World
Carlyle Group Offloads 1.3% Stake in Yes Bank for Rs 1,057 Crore through Open Market Sale
- Global investment firm The Carlyle Group pared a 1.3% stake in private sector lender Yes Bank for Rs 1,057 crore through an open market transaction.
- The US-based Group through its affiliate CA Basque Investments offloaded 39 crore shares of private sector lender Yes Bank on BSE.
- According to the bulk deal data available with BSE, CA Basque Investments sold 39 crore shares amounting to a 1.35 per cent stake in Yes Bank.
- The shares were disposed of at an average price of Rs 27.10 apiece, taking the deal value to Rs 1,056.90 crore.
- After the latest transaction, Carlyle Group’s shareholding has declined to 5.08 per cent from a 6.43 per cent stake in Yes Bank (as of December 2023).
- Meanwhile, Morgan Stanley Asia Singapore Pte acquired more than 30.63 crore equity shares, representing a 1.06 per cent stake in Yes Bank.
- The Carlyle Group had in 2022 picked up a 9.99 per cent equity stake in Yes Bank.
About Yes Bank :
- Established : 2004
- Headquarters : Mumbai, Maharashtra, India
- MD & CEO : Prashant Kumar
- Tagline : Experience our expertise
CURRENT AFFAIRS: MOUS AND AGREEMENT
The Ministry of Ayush inked an MoU with RIS.
- The Ministry of Ayush and Research and Information System for Developing Countries, (RIS) New Delhi signed a Memorandum of Understanding (MoU) at New Delhi.
- The MoU signing ceremony was attended by Joint Secretary Shri BK Singh, Joint Secretary Bhavna Saxena , Advisor Ayurveda Dr. Manoj Nesari, and Shri Kostubh Upadhaya, Advisor Unani Dr. MA Kasmi, Principal Consultant Shri PK Pathak including Senior officials of Ministry of Ayush, Whereas Dr Namrata Pathak, Dr Sarin NS along with others from RIS and FITM were present.
- This MoU will bring forth the overview of Ayush Service sector and will serve the continuation of academic cooperation and collaboration with RIS (a Policy Research autonomous institute of the Ministry of External Affairs).
- Secretary Vaidya Rajesh Kotecha signed the MoU on behalf of the Ministry of Ayush, whereas Director General Prof Sachin Chaturvedi was the signatory on behalf of RIS.
- This Knowledge Partnership, through this MoU, will not only serve to strengthen academic cooperation and collaboration to undertake research, policy dialogue, and publications for national, regional and international, and international capacity building in the field of Indian Traditional Medicine, but will also bring out Ayush Service Sector overview in a time-bound frame.
- Also the academic cooperation between Ministry of Ayush and RIS includes the continuance of the Forum on Indian Traditional Medicine (FITM).
- While signing the MoU, Secretary Vaidya Rajesh Kotecha said that the “Ministry of Ayush has started work way back with RIS and FITM was formed.
- Through FITM, RIS has contributed many policy papers, policy directions etc. Through this MoU, the Ministry of Ayush has agreed to continue this work.”
CURRENT AFFAIRS: SPORTS NEWS
The University of Calicut won the Khelo India University Games Men’s Football Title 2-1 against the University of Kerala.
- The University of Calicut lifted the championship trophy of Men’s Football at the Khelo India University Games 2023 defeating the University of Kerala by 2:1.
- The final match was held at Rajiv Gandhi Stadium, Mulapui in Aizawl.
- In all, 8 Universities have participated in the competition which includes 3 teams from Kerala, 2 teams from Punjab, 2 teams from West Bengal and 1 team from Maharashtra.
- Around 175 athletes with 25 support staff and 22 technical officials and 70 volunteers were involved in the competition.
- The Mizoram Edition of the Khelo India University Games 2023 began on February 19th.
- Football is now becoming a profession and expressed the hope that the young footballers who are participating in the games would dominate Indian Football in future.
- Presentation of the cultural riches of the Mizo community and a Special Number from well-known singer Sangteii Khuptong marked the Closing ceremony.
‘Trailblazing Pioneer’: Jay Shah Hails Jacintha Kalyan on Becoming India’s First Female Pitch Curator
- Jacintha Kalyan has become the trailblazing pioneer as the first female cricket pitch curator in our nation.
- The Board of Control for Cricket in India (BCCI) secretary, Jay Shah, extended warm praise to Jacintha Kalyan for her groundbreaking achievement as the first female pitch curator in Indian cricket history.
- Kalyan is currently overseeing the pitch preparations for the Women’s Premier League (WPL) in Bengaluru, marking a significant milestone for gender inclusivity in the sport.
- Kalyan, hailing from an agricultural background, has been associated with the Karnataka State Cricket Association (KSCA) for over three decades.
CURRENT AFFAIRS : OBITUARIES
Renowned Filmmaker Kumar Shahani Passed Away
- Renowned filmmaker Kumar Shahani passed away in Kolkata at the age of 83.
About Kumar Shahani :
- Shahani was born on December 7, 1940, in Larkana, Sindh (now in Pakistan).
- He was a celebrated Indian film director and screenwriter, known for his contributions to parallel cinema.
- His notable works include “Maya Darpan” (1972), “Tarang” (1984) (which won a National Film Award), “Khayal Gatha” (1989), and “Kasba” (1990).
- Shahani was dedicated to formalism in his filmmaking approach. “Maya Darpan” is regarded as one of Indian cinema’s first formalist films.
- Critics and enthusiasts often compared him to filmmakers like Pier Paolo Pasolini, Andrei Tarkovsky, and Jacques Rivette.
- Apart from his filmmaking career, Shahani was recognized as a teacher and theorist of cinema.
- His collection of essays, titled “The Shock of Desire and Other Essays,” comprising 51 essays, was published by Tulika Books in 2015.
Awards & Honors :
- National Award (1972, 1984, 1991)
- Filmfare Critics Awards – Best Film (1972, 1990, 1991)
- The International Film Festival of Rotterdam – FIPRESCI Award (1990)
- Prince Claus Award (1998)
CURRENT AFFAIRS: IMPORTANT DAYS
National Science Day 2024: February 28
- Every year, national science day is celebrated on February 28 all over India.
- It is celebrated every year to mark the discovery of the “Raman effect”.
- The Raman effect was discovered by the Indian scientist Sir C.V. Raman.
- On this day, Sir C.V. Raman got the Nobel prize for his discovery.
- Sukumar Chandra Sirkar (1898-1983) invented science day.
- In 1928, when Raman discovered his laboratory at the Indian Association for the Cultivation of Science (IACS) in Kolkata, 32 research scholars were working under his guidance and Sukumar was one among them.
- The National Council for Science and Technology Communication (NCSTC) requested the Central Government to designate 28 February as National Science Day (NSD) in 1986.
- It was done to honour not just the achievements of Sir C.V. Raman but also other scientists for their achievements in the scientific field.
- Upon approval, National Science Day is celebrated all over India in schools, colleges, universities, and other institutions. Following the first NSD on Feb 28, 1987, the National Council for Science and Technology Communication announced the creation of the National Science Popularization Awards which recognized individuals for their contributions to the realm of science and communication.
Daily CA One- Liner: February 28
- Prime Minister, Shri Narendra Modi laid the foundation stone and inaugurated and dedicated to the Nation around 2000 railway infrastructure projects worth more than Rs. 41,000 crores via video conferencing
- Union Minister for Road Transport and Highways, Shri Nitin Gadkari in a post said in Jharkhand, approval has been given for the construction of 2-lane bypass road with paved shoulders around Giridih town on National Highway- 114 at a cost of Rs 438.34 crore.
- Index provider MSCI raised India’s weightage in its Global Standard (Emerging Markets) index to a historic high of 18.2% following its February review, and the changes will come into effect after market close on Feb. 29
- The central government plans to increase the number of highly beneficial neem trees in the country from the existing one tree for every 50 Indians to one tree for every 10 Indians to meet the rising demand from different sectors for neem oil
- The Central Consumer Protection Authority has released draft guidelines on the prevention and regulation of greenwashing for public consultation.
- The Ministry of Ayush and Research and Information System for Developing Countries, (RIS) New Delhi signed a Memorandum of Understanding (MoU) at New Delhi.
- The University of Calicut lifted the championship trophy of Men’s Football at the Khelo India University Games 2023 defeating the University of Kerala by 2:1
- Jacintha Kalyan has become the trailblazing pioneer as the first female cricket pitch curator in our nation
- The Reserve Bank of India (RBI) has asked the National Payment Council of India (NPCI) to examine the request of One97 Communications’ (OCL), which owns Paytm, to become a Third-Party Application Provider (TPAP) for continued Unified Payments Interface operation of the Paytm application.
- The Reserve Bank of India (RBI) has allowed banks and non-banks to issue prepaid payment instruments (PPIs) specifically for public transit services, including metro, buses, rail, waterways, tolls, and parking.
- The World Health Organization (WHO) introduced the Global Initiative on Digital Health (GIDH), aimed at fostering collaboration and sharing digital health knowledge and products among countries.
- In the State Focus Paper for the financial year 2024-25, the National Bank for Agriculture and Rural Development (NABARD) has recommended establishing meat and egg processing units in Gujarat to produce value-added products like chicken samosa, patties, and momos.
- Maryam Nawaz, a senior leader of the Pakistan Muslim League-Nawaz (PML-N) party and daughter of three-time former Prime Minister of Pakistan Nawaz Sharif, became the first woman Chief Minister of Punjab province.
- Judge Nawaf Salam (Lebanon) was elected President of the International Court of Justice by his peers, for a term of 3 years.
- Private sector lender HDFC Bank has received approval from the Reserve Bank of India (RBI) for the divestment of stake in HDFC Credila, the education loan subsidiary arm of HDFC Bank.
- Global investment firm The Carlyle Group pared a 1.3% stake in private sector lender Yes Bank for Rs 1,057 crore through an open market transaction.
- Renowned filmmaker Kumar Shahani passed away in Kolkata at the age of 83.
- Every year, national science is celebrated on February 28 all over India.
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